The One Personality Trait Every Property Appraiser Must Have
“As an appraiser, you MUST give an unbiased opinion of value based on the data you have collected and your experience for it to be valid.”
“If you can’t be unbiased you should not be an appraiser. It is the hallmark of what an appraiser does.”
“Every appraiser needs to be unbiased. You can have knowledge, experience, patience, and all the credentials in the world, but if you are biased in either direction you are doing your client a disservice whether it benefits you or them.”
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My comment: I was trained at an assessor’s office. When I first started working there I was told never to even have a taxpayer pay for your lunch. We were trained to be unbiased. Lending was a big shock for me later, with the pressure for values and non-disclosures. Most say that ethics come from within you. But, maybe fear of losing your appraisal license could be a motivator.
I don’t think that USPAP, licensing, regulations, etc. has done much about this. All it does is make us pay for a new USPAP book and class every other year. Plus way too many changing regulations. Plus very uneven state board enforcement. Before licensing, lenders knew who on their panels were ethical. When I started worked at a biotech company doing real estate management, I knew which local commercial appraisers were ethical and who was not after making a few phone calls. Of course, to many AMCs, all appraisers are the same, are sorta stupid and maybe unethical.